New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1887-10-07

hand shows that 1t lost s1ool4 as follows s615,o10
legal tenders and 1928 307 silver less gold gain OF
S92s5I3 and this does not include any of tbs payments
for the 81. 200, 600 OF bonds purchased yesterday
On July the stock OF the Chicago ana Nortn-
western Railway Company selling at ll90l19a al
ter having sold on June at 1878 Since the dates
named 1t has sold at 100 ana to-day ruled at lo@is
11ls What has occurred since the date OF us hlgheS
price of the year June n The company mas maze us
report for It's fiscal year ended May 81. 1887 when
showed results beyond the antcpations OF its most san
guine The report gave balance OF income ior
the OF 50 6l2272 besides balance ofproht OF over
100000 from its proprietary trans Missouri
lines. over and above dividends OF per cent on
its preferred and per cent its common stock in the
first quarter OF the fiscal ycar-June to August
3l-the cross earnings OF the compaDy's matn lines
amounted 10 O25 1896 against S6,59347 in the same
quarter of last year, gain OF Sl32o|3 Inc rece"V
Published state nents about falling Oh In the IRON ore
business arc absolute ctions invented for the purpose
OF letting spectators who have sold the stock down.
on contracts - per cent In common with the railroads
generally OF the country the physical and financial con
OF the Chicago and Northwestern Railway never
the equal OF what IS now There are few Oh or
new roads which borrowers of money; nearly
all continuous lenders and in the lastnanei class
the Chicago and Northwestern is preeminent There IL
a large and anxious "short" interest in the common
stock.
Seemingly the stock speculation to-day largely hinged
upon the developments in the Western Union Balti-
Philadelphia and Reading matters with the holders or
first series bonds But the prominence which Western
Union and Phia lpha anu Reading held in the days
operations probably special benefit TO todays
general market beyond the point that their natural
movements worked to intindats the bears IL 10
acknowledged by officials on both sides that the
Baltimore and OHIO Railways telegraph plant has been
purchased by tho Western Union. The terms aro not
officially stated. Neither is there any official inforna-
ton given about arrangement with tho
other land opposition and cable competi
tons But "a is reasonable to suppose that
telegraph deal has not progressed 50 far without
an Outstanding how the whole system of biography
may be arranged. connection with what has been
with what is contemplated 1T is we'll to bear in
mind that an advance OF 5 cents per message on the
business OF the Western Union land lines Is
equal $3.000O00 additional net income per annnm
to that company. A i0cent rate on cables VIII
return the Western Union Company large profit In
stead OF loss Of 500 900 per annum which 1T has sur
fcred during the years And neither advance
which Will he made will bo exhorbitant tax on con-
merce and trade. Western Union opened a, 77as sold
at 774 79s and closed at 1913 There seems To
be little doubt that majority of the first series % OF tho
Philadelphia and Reading to-day have accepted the plan
OF reorganization although Official announ cement OF
the fact has been made. Reading stock rose from o9'7
617 0Gla St. Paul active ami rose from 1913 to
77ea764 without giving the bears In it much of an
opportunity to recoup their recent sales ut 75a The
market generally was dull but srolg IN tons There
was a marked change in the character OF tho dealings
The demand good but not urgent AMI while every
opportunity for depression utilized, tho bears dis
played a healthy precaution in increasing their lines
Aside from room traders scaprs for fractions the
the close probably Is large as IL has
been at any time. The market closed strong.
Government bonds were dull firm with the bids for
the 4los up per cent Annexed the closing quota
lions: